Jonathan Shead has been appointed as head of retirement solutions at SSGA

26 June 2018

State Street Global Advisors has appointed Jonathan Shead in the firm’s newly created position as the head of retirement solutions.

State Street Global Advisors (SSGA) is an investment management and advisory firm and a division of the global State Street Corporation, one of the world’s largest asset management firms. The firm employs over 2500 professionals in 25 locations worldwide, including offices in both Melbourne and Sydney, and has assets of USD $2.7 trillion under its management globally.  

SSGA Australia has created the role of head of retirement solutions for Jonathan Shead. In the position, Shead will build and lead a team of professionals to develop retirement investment products in collaboration with superannuation funds as well as financial advisors. 

Shead has been with SSGA since mid-2000, when he joined the firm to assist in the development, marketing and maintenance of multiple investment strategies. He has a Bachelor in Economics from Macquarie University and is a fellow of the Institute of Actuaries of Australia. 

Prior to joining SSGA, Shead was a senior asset consultant and consulting actuary with superannuation administration and consulting firm NSP Buck.

Jonathan Shead has been appointed as head of retirement solutions at SSGA

James MacNevin SSGA’s COO for the Asia Pacific region said; “As more Australian super fund members transition from accumulating wealth to drawing down their savings, the need for investment strategies tailored for retirement has become acute.”

"Our Global Retirement Survey, to be released next month, indicates only one in five working Australians are optimistic about their financial future in retirement."

"We hope this new retirement solutions team will help shift that sentiment and contribute to a greater sense of financial security for Australian retirees.” 

MacNevin – based out of Sydney – was also recently appointed to the top role in March this year. He replaced Lochiel Crafter who has moved up as the firm’s global institutional group head. “His multi-disciplinary experience and record of success in the Asia Pacific region make him an ideal successor to Lochiel,” said Cyrus Taraporevala, president and CEO of SSGA.

“Asia Pacific is critical to our global strategy and we believe his experience and knowledge of our business will add tremendous value as we continue to develop and enhance our offerings to institutional and retail clients in the region.” 

Speaking at the Australian Institute of Superannuation Trustees Super Investment Conference in 2017, the firm’s new senior appointee Shead said; “As asset managers we want to prove we aren't an industry of leeches; that we're actually contributing to broader economic growth. But we can't do that if we can't determine what motivates us.” 

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Ian Watt leads Energy & Environment arm of L.E.K Consulting Australia

15 April 2019

Ian Watt has joined L.E.K Consulting’s as a partner and leader of the firm’s Australian Energy & Environment practice. Watt is based in Sydney.

“We are delighted to welcome Ian Watt to L.E.K Consulting,” said Nick Holder, who leads the firm’s operations in the Asia Pacific region and is country leader of the Australia business. “His experience working with utilities to successfully address waves of market disruption and regulatory complexity bolsters our ability to drive value creation for clients.” 

Watt joins from Strategy&, where he worked since 2010, initially with Booz & Company before transitioning to Strategy& through PwC's $1 billion acquisition of Booz in 2014. He brings over a decade of experience advising clients in the energy, utilities, mining and industrials sectors across Asia Pacific, Europe, and North America. His experiences span the utility value chain, and comprise a mix of growth strategy (strategic planning, go-to-market models), operational transformation (cost, business model, and performance optimisation) and innovation (design of new products and services). 

During his career at Strategy&, Watt worked from the firm’s offices in London, Sydney, and most recently Calgary – he relocated to Canada in 2016 to help launch and build the Strategy& firm in the country. Prior to his consulting spell, he held several technical an economic consulting roles in the engineering industry, having started his career in Mott MacDonald’s consultancy team in the UK.

Ian Watt leads Energy & Environment arm of L.E.K ConsultingAt L.E.K Consulting, which has over 1,400 professionals globally, Watt will lead the Australian Energy & Environment practice. His appointment comes at a time when the energy & utilities sector is facing major change, with market disruption and regulatory complexity taking hold. According to L.E.K. Consulting, “Primary energy suppliers, OEMs and utilities, among others, turn to L.E.K. to benefit from its experience gathered over decades of tackling major strategic and operational issues in the sector.”

The presence of large energy conglomerates and mining giants means Australia's energy & resources consulting industry is the 2nd largest globally, trailing just the massive market of the United States. Government data shows that the resources sector comprise 15% to 20% of the national economy and up to 60% of Australia’s exports. BHP Billiton (the fourth largest company by revenue in Australia) and Rio Tinto (revenue of $40 billion) are major players in the space, meanwhile beyond mining & resources, companies such as energy retailers (e.g. Alinta Energy, BlueNRG, Click Energy, etc) and energy generators (e.g. AGL, Origin and EnergyAustralia) are ramping up their spending on external consultants in a bid to successfully position themselves for future sustainable growth. 

Watt’s move brings the total of new partners at L.E.K. in Australia to three this year. Previously, Joe Sponholtz joined the Sydney office from rival consultancy Partners In Performance, while Melbourne-based Philip Wheeler was promoted internally to partner.

Last week, Bain & Company named a new leader for its Australia and New Zealand division: company veteran Peter Stumbles.